St Modwen

St Modwen sells £10.8m site to housebuilder

St Modwen has sold its 9.8-acre Lickey Road site at Longbridge, Birmingham for £10.8m to housebuilder Persimmon Homes.

The completion of the sale comes after Persimmon obtained detailed planning permission for 215 homes, with onsite work already underway.

The site forms part of St Modwen’s £1bn regeneration of the former MG Rover Works in Longbridge, which has so far delivered over 350 family homes, a £100m town centre, new offices, the £66m Bournville College, Longbridge Technology Park and the three-acre Austin Park.

Nick Whittingham, development director at St Modwen, said the sale of the Lickey Road site was another important step in the evolving transformation of Longbridge.

“It is in line with our strategy as we step up the disposal of residential land to capitalise on the continued good levels of demand from housebuilders for well-located land.

“As we accelerate the release of capital from our land bank we can reinvest in our other strategic priorities.”

Sofi Liperis, land manager at Persimmon Homes, added that it was delighted to have now completed on yet another site acquired from St Modwen.

“Longbridge is a highly desirable area, and its regeneration has created a sense of community that our new future residents will be proud to be a part of.

“We are expecting to release for sale in June/July for 215 good quality homes.”

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